First American Financial's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of First American Financial (FAF) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: First American Financial vs Its Competitors
- TTM: Trailing 12-month revenue of 8,090M vs 9,843M combined for its competitors (45.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+3.1% annualized vs trailing 12 months), vs accelerating (+3.6%) for its tracked peer group.
- Growth: First American Financial generated 5.3% revenue growth year over year in Q3 2026, vs 5.2% for its competitors combined.
- Profitability: Its 8.5% net margin compares with 9.5% for the peer group.
- Scale: First American Financial ranks #9 of 29 companies by market capitalization in the Insurance Brokerage industry, holding 1.8% of industry market cap.
- Peer revenue share: First American Financial accounted for 45.0% of combined revenue among its tracked peer group, up from 44.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.42M compares with $0.70M for the peer group (0.6x).
- Structure: First American Financial operates in the following segments: Title Insurance and Services, Home Warranty, Corporate and Eliminations, Corporate.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FAF Sales vs. its Competitors, Q3 2026
First American Financial reported revenue growth of 5.34 % year on year in Q3 2026, above its competitors' combined revenue growth of 5.21 %.
With a net margin of 8.49 %, First American Financial reported lower profitability than its competitors (9.54 %).
First American Financial generated 44.97 % of the combined sales of its peer group, up from 44.94 % a year earlier.
API endpoints for this dataset
First American Financial vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in First American Financial reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across First American Financial and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| First American Financial Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across First American Financial's competitor groups requires a Commercial License.
For context: the Insurance Brokerage industry grew revenue 10.5% year over year, combined, vs 5.3% for First American Financial. First American Financial's share of combined industry revenue moved from 5.50% to 5.24%, a loss of 0.26 percentage points.
First American Financial's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| First American Financial Corporation | Yes | Yes | Yes | No |
| Competitors combined (6) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (9) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 25.00 % (2 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FAF Stock Performance relative to its Competitors
FAF Stock Performance relative to High-Confidence Competitors
FAF Stock Performance relative to Similar-Size Competitors
FAF Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Essent Group Ltd | 282.9% | Outperformed |
| 2 | Old Republic International Corporation | 282.9% | Outperformed |
| 3 | Meridianlink inc | 282.9% | Outperformed |
| 4 | Investors Title Co | 282.9% | Outperformed |
| 5 | Fidelity National Financial Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for First American Financial's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
First American Financial's Comment on Competition and Industry Peers
Publicly Traded Peers of First American Financial Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 First American Financial Corporation |
6,915.43 | 8,089.60 |
 Fidelity National Financial Inc |
11,705.28 | 15,358.00 |
 Old Republic International Corporation |
9,771.68 | 9,843.10 |
 Essent Group Ltd |
5,794.98 | 1,322.99 |
 Meridianlink inc |
1,530.35 | 324.36 |
 Stewart Information Services Corp |
1,450.09 | 3,268.02 |
| SUBTOTAL | 37,653.37 | 38,499.13 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on First American Financial Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
First American Financial's Competitors Named by the Company
Competitive relationships identified from First American Financial reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Essent Group Ltd | Company report | 85% |
| Fidelity National Financial, Inc. | Company report | 85% |
| Stewart Information Services Corp | Company report | 85% |
| Old Republic International Corporation | Company report | 85% |
| Hg Holdings Inc | Company report | 85% |
| Stewart Title Guaranty Company | Company report | 85% |
| Corelogic Inc | Company report | 85% |
| Investors Title Co | Company report | 85% |
| Black Knight inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for First American Financial's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
First American Financial's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| First American Financial Corporation | Title Insurance and Services 94.64 % |
| Fidelity National Financial Inc | Title 68.31 % |
| Old Republic International Corporation | Specialty Insurance Group 56.64 % |
| Essent Group Ltd | Mortgage Insurance 71.87 % |
| Stewart Information Services Corp | Title 78.19 % |
| Investors Title Co | Title Insurance 98.98 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
First American Financial's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| First American Financial Corporation | 6,915 | 423,495 | 38,441 |
| Fidelity National Financial Inc | 11,705 | 625,963 | 36,682 |
| Old Republic International Corporation | 9,772 | 1,036,116 | 116,253 |
| Essent Group Ltd | 5,795 | 2,573,914 | 1,324,339 |
| Meridianlink inc | 1,530 | 475,607 | -32,982 |
| Stewart Information Services Corp | 1,450 | 418,976 | 19,222 |
| PEERS TOTAL | 30,738 | 697,386 | 65,428 |
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First American Financial's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Stewart Information Services Corp | United States 95.20 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
First American Financial's Position in Industry Market Structure
Market-capitalization share and concentration across all 28 companies in First American Financial's industry classification, broader than the peer set above. Market cap in millions of $.First American Financial ranks #9 of 28 companies by market capitalization in its industry, holding 1.84 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,590, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 98,723 | 26.34 % |
| 2 | Arthur J Gallagher and Co | 72,289 | 19.29 % |
| 3 | Aon Plc | 71,616 | 19.11 % |
| 4 | Willis Towers Watson Plc | 30,913 | 8.25 % |
| 5 | Brown and Brown Inc | 1,234 | 5.2% |
| 6 | Equitable Holdings Inc | 1,234 | 5.2% |
| 7 | Erie Indemnity Company | 1,234 | 5.2% |
| 8 | Fidelity National Financial Inc | 1,234 | 5.2% |
| 9 | First American Financial Corporation | 6,902 | 1.84 % |
| 10 | Ryan Specialty Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of First American Financial's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
First American Financial's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 4 | Willis Towers Watson Plc | 30,913 | 1.97 % |
| 5 | Brown and Brown Inc | 24,088 | -7.17 % |
| 6 | Equitable Holdings Inc | 14,655 | 17.10 % |
| 7 | Erie Indemnity Company | 14,282 | -10.73 % |
| 8 | Fidelity National Financial Inc | 1,234 | 12.3% |
| 9 | First American Financial Corporation | 6,902 | 8.06 % |
| 10 | Ryan Specialty Holdings Inc | 1,234 | 12.3% |
| 12 | Corvel Corporation | 1,234 | 12.3% |
| 13 | The Baldwin Insurance Group Inc | 1,234 | 12.3% |
| 14 | Ethos Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of First American Financial's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
First American Financial's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Insurance Brokerage industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (37 companies). See the full Insurance Brokerage industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 27.28 % (avg) | -27.3 pp |
| Operating Margin | 37.26 % | industry median | +7.3 pp |
| EBITDA Margin | 16.07 % | 11.68 % (avg) | +4.4 pp |
| Capital Intensity (Capex / Revenue) | 2.02 % | 2.22 % (avg) | -0.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
First American Financial's Valuation vs Competitive Position
Valuation multiples vs the Insurance Brokerage industry average (37 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Insurance Brokerage industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 10.2x | 26.2x | -16.0x |
| EV / EBITDA | 5.3x | 10.7x | -5.4x |
| P/B | 1.3x | 2.4x | -1.1x |
| Return on Equity | 13.30 % | industry aggregate | -9.26 % |
| Return on Invested Capital | 15.72 % | 10.16 % (avg) | 5.56 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
First American Financial's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -0.42 % | 7.90 % | 14.26 % | 30.12 % | -17.53 % | -21.06 % | 2.08 % | 21.61 % |
| Operating Margin | -39.37 % | 20.60 % | 63.13 % | 67.19 % | 61.10 % | 58.55 % | 58.29 % | 62.73 % |
| Return on Invested Capital | -24.42 % | 11.51 % | 35.18 % | 41.84 % | 22.17 % | 17.23 % | 17.62 % | 31.64 % |
| P/E | 11.0x | 9.8x | 8.3x | 6.8x | 22.5x | 27.3x | 52.0x | 10.5x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
First American Financial's Strategic Group Map
First American Financial is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
First American Financial's trailing-12-month revenue growth of 14.1% and operating margin of 37.3% compares with an average of 4.0% growth and 31.9% margin across its 8 closest peers by combined growth, margin and ROIC -- First American Financial sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
First American Financial's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
First American Financial falls in the Dog quadrant: relative market share of 0.07x vs its largest competitor, in an industry growing revenue 7.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
First American Financial's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,590 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 2.02 % vs industry average 2.22 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on First American Financial's dedicated Suppliers and Customers pages, not here.
First American Financial's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
First American Financial falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
First American Financial's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 7.3 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+3.1% annualized vs trailing 12 months).
Weaknesses
- Return on equity 9.3 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.07x).
Opportunities
- Trades at a lower P/E than the industry average (10.2x vs 26.2x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
First American Financial's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| First American Financial Corporation | 0.30 | 0.92 | 0.28 |
| Fidelity National Financial Inc | 0.15 | 0.47 | 0.49 |
| Old Republic International Corporation | 0.04 | 1.59 | 0.30 |
| Essent Group Ltd | 0.15 | 5.25 | 0.09 |
| Meridianlink inc | 1.43 | 2.12 | 1.12 |
| Stewart Information Services Corp | 0.63 | 2.02 | 0.37 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
First American Financial's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| First American Financial Corporation | Q3 2026 | +5.3 % | -6.8 % |
| Fidelity National Financial Inc | Q2 2026 | +11.4 % | -5.8 % |
| Old Republic International Corporation | Q3 2026 | +5.2 % | -13.2 % |
| Essent Group Ltd | Q2 2026 | +13.6 % | -2.9 % |
| Meridianlink inc | Q2 2025 | +7.1 % | - |
| Stewart Information Services Corp | Q2 2026 | +24.5 % | +17.2 % |
| PEERS TOTAL | +9.6 % | -5.7 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
First American Financial's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| First American Financial Corporation | Q3 2026 | - | -16.2 % |
| Fidelity National Financial Inc | Q2 2026 | +450.0 % | - |
| Old Republic International Corporation | Q3 2026 | - | - |
| Essent Group Ltd | Q2 2026 | - | +31.0 % |
| Meridianlink inc | Q2 2025 | -3.6 % | +10.2 % |
| Stewart Information Services Corp | Q2 2026 | - | +72.4 % |
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First American Financial's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| First American Financial Corporation | 4.13% | 5.38% | 13.30% |
| Fidelity National Financial Inc | 0.82% | 2.55% | 10.05% |
| Old Republic International Corporation | 3.61% | 4.12% | 18.54% |
| Essent Group Ltd | 9.09% | 9.69% | 11.91% |
| Meridianlink inc | - | - | - |
| Stewart Information Services Corp | 4.75% | 5.26% | 9.30% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
First American Financial's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| First American Financial Corporation | 9.48 | 0.85 |
| Fidelity National Financial Inc | 16.10 | 0.76 |
| Old Republic International Corporation | 8.92 | 0.99 |
| Essent Group Ltd | 8.91 | 4.38 |
| Meridianlink inc | - | 4.72 |
| Stewart Information Services Corp | 10.63 | 0.44 |
| PEERS AVERAGE | 10.50 | 0.98 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.